Higher interest rates and the threat of a recession are expected to considerably slow commercial real estate leasing and investment activity across the board in 2023.

Fifth Wall Ventures Management LLC raised the largest-ever venture fund focused on real-estate technology companies, a sign that some major investors are still bullish on property startups despite this year’s surge in interest rates. The $866 million fund will invest in both early- and late-stage startups.

WeWork, saddled with expensive long-term leases and more than $3 billion of debt, recorded a negative cash flow of around $4.3 billion between July 2020 and September of this year.

Nontraded REITs paid out $3.7 billion in redemptions in the third quarter. While they were still raising more new funds from investors than they were losing to withdrawals, that marked the highest withdrawal figure in years and a 12-fold increase from the third quarter of 2021.

Fortress Investment Group has agreed to help finance Kushner Cos.’ unsolicited $4.3 billion bid to buy rival apartment building owner Veris Residential Inc.

Investor buying of homes tumbled 30% in the third quarter. Companies bought around 66,000 homes in the 40 markets tracked during the third quarter as compared with 94,000 homes during the same quarter a year ago.

Home sales fell for a ninth straight month in October as high mortgage rates continue to push buyers out of the market.

Americans took out $66 billion in home-equity lines of credit in the second quarter, a 40% increase from a year ago and the largest amount in almost three years.

Miami Beach voters in a series of referendums last week derailed three major real-estate projects from top U.S. developers, reflecting a budding backlash against certain new development plans for the city.

Nationwide, the median sales price of an existing single-family home last quarter was up 8.6% from a year earlier to $398,500, according to NAR, a slowdown from the second quarter’s 14.2% pace.